Institutional investorsWhen Avalyn(then Genoa) raised its C$80 million cash going into its IPF inhaled drug human trial institutional investors came with it. CZO's Phase I clinical trial decision for fibrosis is expected in the summer. Perhaps CZO could get an accelerated and government financed COVID clinical trial before partnering. The Canadian government has provided financing for this program. We will have to wait and see what the next phase is and how it will proceed. This could provide unprecedented validation for PGX and draw attention to CZO more generally.
Genoa Pharmaceuticals Secures $62 Million Series A Financing, Adds to Leadership Team
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Seattle, WA – May 15, 2017 – Genoa Pharmaceuticals, Inc., a biopharmaceutical company focused on development of improved therapies for idiopathic pulmonary fibrosis (IPF) and other severe pulmonary indications, today announced the completion of a $62 million Series A financing. The round was led by F-Prime Capital Partners and Edmond de Rothschild Investment Partners, with participation by Novo AS, RiverVest Venture Partners, and TPG Biotech. Concurrent with the financing, venture capitalists Ketan Patel, M.D., Naveed Siddiqi M.D., Tiba Aynechi Ph.D., Niall O’Donnell, Ph.D., and Heather Preston, M.D. joined the board of directors. Jonathan Leff, M.D, former Executive Vice President of Research and Development at InterMune and who led the oral pirfenidone (Esbriet®) approval process, was appointed an independent director.